Toronto Dominion Bank boosted its stake in E*TRADE Financial Corp (NASDAQ:ETFC) by 18.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,990 shares of the financial services provider’s stock after buying an additional 27,311 shares during the quarter. Toronto Dominion Bank owned approximately 0.07% of E*TRADE Financial worth $10,578,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Blackhawk Capital Partners LLC. boosted its stake in E*TRADE Financial by 81.4% in the first quarter. Blackhawk Capital Partners LLC. now owns 1,805 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 810 shares in the last quarter. Parallel Advisors LLC boosted its stake in E*TRADE Financial by 362.5% in the second quarter. Parallel Advisors LLC now owns 1,679 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 1,316 shares in the last quarter. Nisa Investment Advisors LLC acquired a new position in E*TRADE Financial in the second quarter worth $119,000. NewSquare Capital LLC acquired a new position in E*TRADE Financial in the second quarter worth $163,000. Finally, Alps Advisors Inc. acquired a new position in E*TRADE Financial in the second quarter worth $212,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have commented on the company. Morgan Stanley reduced their price objective on E*TRADE Financial from $78.00 to $74.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 25th. Zacks Investment Research raised E*TRADE Financial from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a research note on Monday, July 16th. BidaskClub lowered E*TRADE Financial from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 26th. Wells Fargo & Co boosted their price objective on E*TRADE Financial from $67.00 to $73.00 and gave the stock an “outperform” rating in a research note on Monday, May 21st. They noted that the move was a valuation call. Finally, UBS Group reissued a “buy” rating and issued a $73.00 price objective (up previously from $67.00) on shares of E*TRADE Financial in a research note on Thursday, May 31st. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $66.81.
ETFC stock opened at $58.73 on Tuesday. The firm has a market cap of $16.15 billion, a PE ratio of 26.82, a PEG ratio of 1.06 and a beta of 1.19. E*TRADE Financial Corp has a twelve month low of $39.32 and a twelve month high of $66.46. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.43.
E*TRADE Financial (NASDAQ:ETFC) last released its earnings results on Thursday, July 19th. The financial services provider reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.07. The company had revenue of $710.00 million during the quarter, compared to the consensus estimate of $707.78 million. E*TRADE Financial had a return on equity of 13.39% and a net margin of 29.13%. The firm’s quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.52 earnings per share. equities research analysts predict that E*TRADE Financial Corp will post 3.59 earnings per share for the current fiscal year.
E*TRADE Financial Company Profile
E*TRADE Financial Corporation, a financial services company, provides brokerage and related products and services primarily to individual retail investors under the E*TRADE Financial brand. It also offers investor-focused banking products, primarily sweep deposits to retail investors; Federal Deposit Insurance Corporation insurance services; clearing and settlement services; investment advisory services; and financial corporate services, such as software and services for managing equity compensation plans to its corporate clients.
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